HomeMy WebLinkAbout2021-016 Ordinance amending the 2021 Budget for the City of Yakima; and increasing the Convention Center Fund 170 revenue budget with a $500,000 allocation from the American Rescue Plan Act(ARPA) Fiscal Recovery Funds (Sec2021.
AN ORDINANCE
ORDINANCE NO. 2021-016
amending the 2021 Budget for the City of Yakima; and
increasing the Convention Center Fund 170 revenue budget
with a $500,000 allocation from the American Rescue Plan Act
(ARPA) Fiscal Recovery Funds.
WHEREAS, the ARPA Fiscal Recovery Funds provides for economic impacts for
hard hit industries such as tourism, travel, and hospitality; and
WHEREAS, at the time of the adoption of the 2021 budget it could not reasonably
have been foreseen to anticipate continued and sustained negative economic impacts to
the tourism, travel, and hospitality industries, and
WHEREAS this transfer of ARPA Fiscal Recovery Funds allocation would mitigate
the revenue loss in The Convention Center Fund 170 as a result of the COVID-19
pandemic; now, therefore,
BE IT ORDAINED BY THE CITY OF YAKIMA:
Section 1. A revenue transfer allocation totaling $500,000 is hereby made, for
Convention Center Fund 170, from ARPA Fiscal Recovery Funds as specified in the
Schedule 1 attached hereto and incorporated herein.
Section 2. This ordinance is making a transfer of revenue from ARPA Fiscal
Recovery Funds to Convention Center Fund 170 and shall take effect immediately upon
its passage, approval and publication as provided by law and by the City Charter.
PASSED BY THE CITY COUNCIL, signed and approved this 17th day of August,
atricia Byers, ayor
ATTEST:
ya Claar Tee, City Cie*
First Reading: August 2, 2021
Publication Date: August 20, 2021
Effective Date: August 20, 2021
1
ITEM TITLE:
SUBMITTED BY:
BUSINESS OF THE CITY COUNCIL
YAKIMA, WASHINGTON
AGENDA STATEM ENT
Item No. 6.N.
For Meeting of: August 17, 2021
Ordinance amending the 2021 Budget for the City of Yakima; and
increasing the Convention Center Fund 170 revenue budget with a
$500,000 allocation from the American Rescue Plan Act (ARPA)
Fiscal Recovery Funds (Second Reading)
Jennifer Ferrer Santa Ines, Director of Finance and Budget
Kimberly Domine, Finance Manager
Jennifer Morris, Financial Services Officer
SUMMARY EXPLANATION:
The Convention Center Fund 170 actual year to date revenues are less than anticipated or
projected in the budget. Revenue from Hotel Motel Tax to date total $367,000 and revenue from
Yakima Center operations has brought in $96,000. The annual budget for these revenue sources
were $682,000 and $875,000, respectively.
The Convention Center Fund has a net decrease of $243,000 to date. In order to cover
decreased revenues and anticipated expenditures for the year, Staff is recommending the use of
American Rescue Plan Act (ARPA) Fiscal Recovery Funds to mitigate COVI D-19 related
negative impacts affecting the tourism, travel, and hospitality industry. Per the Interim U.S.
Department of Treasury guidelines, this is an eligible use of fiscal recovery funds.
ITEM BUDGETED: NA
STRATEGIC PRIORITY: Public Trust and Accountability
APPROVED FOR SUBMITTAL BY THE CITY MANAGER
RECOMMENDATION:
Pass Ordinance
ATTACHMENTS:
Description Upload Date
0 Ordinances t/29/2021
❑ Memo 7/29/2021
Type
Ordinance
Corer Memo